Food stamp use has risen dramatically along with unemployment but hiring is increasing and that will augment food stamp usage decreasing. Don't those two lagging indicators go hand in hand?
@WJJ1968 what r u talking about? food stamp use is up 22% in the past 12 months, its now at 39,000 million. Long term unemployment, defaults, notice of defaults, and notice of trustee sales are all at RECORDS. Food prices are up according to the gov 27% in the past year, food and energy combined are up 18%.
The gov is now funding 96.5% of all mortgages in the U.S. and last week in order to pretend things are getting better the BLS claimed that 188,000 unconfirmed jobs had been created.
@visionvictory In March, seven of the 10 leading indicators were positive: the interest rate spread; average weekly manufacturing hours; index of supplier deliveries; stock prices; building permits; average weekly initial claims for unemployment insurance and manufacturers new orders for consumer goods and materials.
You won't be able to buy gold with dollars soon. You will need Euros or Yuan. They are in the process of removing dollars from the various markets in favour of global currencies.
Get ready for the real collapse. Buy Yuan if you have greenbacks. Quick.
Most people probably dont know at one time ALL currencies were backed by silver and gold. That is what gave the dollar value and prevented our government from inflating our currencies. Now if we went back to the gold and silver standards the price of these metals is going to sky rocket. If we reverted back to the gold and silver. Gold should be at about 5000 an ounce while silver around 300 an once.
Gold and silver can buy you food. You need to locate a metals trader sell metal for paper money and run to the store with paper and buy groceries. Now if you store your wealth in paper it is worth less as the months and years go on due to inflation. Silver and gold is a means of wealth preservation. Right now both Physical Gold and Silver are undervalued due to the Gold Derivatives. There is not enough Physical gold to back up the paper that was printed for it.
All these hyperinflation hacks dont get it. Debt is being imploded and destroyed. What do you think foreclosures are. That makes dollars dissapear from the system. Just look at dubai. Within the coming year, there will be many more dubai's and people will not be able to service the interest on their debt. We are in a deflationary collapse. Gold and silver arent going up because of inflation you fools. Its going up on lack of confidence of paper money. You people dont get it.
At this point, I would become very skeptical of all numbers reported regarding GDP, unemployment, inflation, etc... It's been obvious that a great manipulation has been taking place socially and economically so what the hell is safe to believe. The Dow is going through the roof, while the value of the dollar plummets, and everyone on wall st. dances the jig. This is crazy stuff. I would buy as much gold and silver on the bank of america c.c., ditch the card, and hide the gold and silver.
If billions hadn't been stolen and wasted on so-called "Child Protection" and all its affiliated criminal enterprises (google Dr. Charles Smith, for just one example), things would be much better financially. Not to mention the children wouldn't be living with foster "care" adoption pedophiles and getting raped and beaten as we speak / type.
People have MONEY. They have to do something with that money to GET OUT OF DOLLARS. So they are BUYING STOCKS. Don't be so sure that you know where everything is going. You are not that good my friend. You placed your bets, now lets see who wins.
the irony is that worthless paper dollars can be used to buy valuable gold and silver. Go figure! Also, I like to see someone try to buy their groceries or gas using gold or silver. Or pay any bill for that matter. Gold and silver are still priced in dollars. Oh those worthless dollars.
so the reason I think hyper inflation isn't going to happen is because these companies need to sell goods, if nobody buys they will have to lower the price to get shoppers to buy.
Very well spoken, good job man. Seriously it's time america wakes up to realize all these goverment stimulus packages does nothing more than magifies the mess were in already.
Brandonly23 - You have no documentation that home prices are UP nationally. Home prices are DOWN ! The census bureau just reported that 1 in 9 houses in the United States are empty due to foreclosure.
Why do we have to fix housing ? Because that will fix the banks, the mortgage companies, the pension plans, insurance companies and everyone else who is invested in mortgage backed securities ie: real estate. Until Housing is fixed, there will be no recovery.
Will we see DOW 10K and higher soon? With the inflationary actions of the Fed, won't this guarantee higher prices in the stock market? With the USD being diluted and worth LESS, won't it take more dollars to purchase a given share of stock, thus raising average share prices?
If inflationary pressures build up that much, then gold would hit 2,000 in the short term. Personally, I still see a major contraction in business which will eventually be reflected in the stock market.
something we have to consider most people trust these so called professionals. the economy will crush when the majority of people start saying oh shit get rid of these dollars.
Lets have some fun. I project gold will drop to 850.00 or much lower. This can only be reversed if gold closes above 1002.20. Anyone out there in YouTube land want to disagree?
o Israel has killed Americans (eg. Sailors on USS Liberty, Rachel Corrie, etc...)
o Israel spies on this country.
o Israel blackmails our corrupt politicians.
o Israel steals our taxes.
o Israel uses our country as their toilet.
For more info, click my UsedID then browse my informative Israel playlist.
Please distribute this post and tell your Senator and/or Representative about Israel's killing Americans, heinous crimes, stealing our taxes, and its spying on USA. Peace!
The WWIII, parallel universe, scenario is that China decides the U.S. can not pay off its loans and decides to take our assets (like in any good bankruptcy) -- through their million man army -- or by buying America.
japan was supposedly going to do that twenty years ago. the real enemy is neither the two of them, nor was the third reich the real enemy. the real enemy is and was the organization that made the third reich.
@deletemepleez Or china will stop buying the debt, the fed will start to hyperinflate and the leadership will begin using price controls, which lead to shortages.
actually china has continued to rebuild it's infrastructure. their worse fault is they have to import alot of resources from australia and they have food shortages because of overpopulation. their industry is actually very powerful. most asian countries have way more advanced internet and other technological advantages. the us is very archaic and living on it's old reputation and military might. if it weren't for the fact of a powerful bond market the us would have collasped along time ago
Go ahead revolt now and your new government will be Russia, China, and South America. Faith in tradition got us into this.. People just let things happen without consequence of what will happen in the future or tomorro. With the fed, corporations, and our beloved government pulling the strings. People with iq know that when they say something publically it's usually a lie. i'll do this, i'll do that then people go to bed and leave their faith in all these authority figures that lie.
They know the Dollar is going to tank. It will collapse, it's imminent. The Chinese are desperate to convert the Dollars they have into something similar: a new world currency with similar, but real value. The Euro and the Dollar are fiat currencies like all the paper currencies. The Chinese are not going to lose their gains, they know that all this wealth can represent political leverage on a global scale. This is a threat to national security. The economy is paramount for America. Sigh!
There is definitely a mood for change, the elite have total distain for the average guy in the street, and the average Joe has had enough. The problem is that we have been softened up over the years, therefore it's going to take a while before the momentum builds up to bring about change, but one thing is for sure, change will occur due to the stark about turn in our standard of living, whilst the elite prosper
Bau250- While I can appreciate your disdain for the CEO's who took "Bail Out" money and used it for their own prosperity...I think you have lost focus on the true cause of this issue. When you take away all the corruption in government...You have a "Stimulus" bill that was READ by the public, as well as the members of congress & NO bail out financing. It's kind of like leaving your keys in your car on a dark street, and expecting it to be there in the morning.
no...that's devaluation...you may be able to buy more shares of a company now with each dollar, but that doesn't mean you are getting more value out of the dollar. printing money always leads to inflation and we have recently printed Trillions. That is why Russia and China have both called for a new reserve currency...This is HUGE!!! The news talks about AIG bonuses and other garbage...mean while we have real news out there that is just avoided all together.
Russia and China are scared shitless because they have bought so many treasuries. Since it is highly unlikely that the world reserve currency will be changed, they will sell their treasuries. Once they do that, the USD will implode and hello hyperinflation USA!!!!
Why not stock up on food now? Prepare for the worst and hope for the best. Once the sheeple are made aware of the crisis to the masses, there will be no food left for anyone not already prepared. Rice, beans, canned goods, noodles, nutrition bars, etc. don't expire for a very long time. If you wait when crap hits the fan, then you will be left behind. Do this in this order: #1 Food stock #2 Gun/ammo #3 Gold/Silver
Alright then we will stop going to work stop paying our depts stop paying for our groceries and start workin together indepently and go back to bartering and get money out the way
Thanks again Daniel. Keep up the good work. I've been listening to Marc Faber for years and he has also predicted all of this. They nicknamed him Dr Doom. Turns out he is Dr Truth.
I stand by the fact that you cannot eat gold...People should by seeds and use that as barter for gold and silver. You can only keep you precious metals for so long before you spend it and then what??? If you reproduce your seeds you are still in business.
It looks me that finally were at the point where deflationary forces have been beat. More bad news for the Americans when the dollar goes down - as inflation only helps the well to do.
What Bernanke actually did last week was devalue our currency by about 5-6%. Even if you are out of the market, you lost a lot of your money last week. You also got a big tax increase by the move.
thats true...its a very interesting albiet frightening delima..devaluing the currency to create inflation to jump start the economy...but in reality he is debasing the currency and deflating hard assets and inflating survival consumer goods like food and energy...so basically no one will have enough money to pay their mortgages buy food andkeep the lights on but you will be able to buy a car for peanuts...brilliant!
The analogy I use when explaining this phony economy to people is a drug dealer who relies on a dealer to front him drugs and then pays him once he sells the drugs. Small companies are enslaved to big companies through debt and that's why this system is so monopolized and corporatized! If the economy is based on borrowed money in the first place, the "little guy" has no other choice but to receive fronted goods or money from a big company.
Hyperinflation will be every companies' demise however the people profiting off these bailout scams (who are manipulating this deflationary period) are buying everything they want for themselves, including other banks. You can bet they're stocking up on guns, ammo, and food like the rest of us should be doing!
You say people have to "understand the fundamentals of this economy" yet 80% of the people out there don't understand basic supply and demand! Print more money and the demand for it goes down overseas!
What's funny is that they're not even being secretive about the collapse of the dollar anymore, it is "accepted" by the mainstream media. Now how long before it is "accepted" by the average American??
good vid -- better than your average stuff. I think hyper-infation will hit as well. Do you think some companies with no debt and solid assests will also hyper-inflate in value?or wouls they be sucked down with everything else?
TGSIII-All kidding aside...Don't you think with the country in the shape it is in, The Obama administration should cut out the "Late Night" shows & the Private plane rides? It ammused me that the members of government point their fingers at the CEO's who ask for taxpayer bailouts, for their waste of taxpayer dollars...ie Private Jets, Shameful spending...Sounds ridiculous when they are BOTH abusing OUR money.
Russia...has and always will use whatever means available to circumvent the USA. They just passed the largest stimulas in world history when compared to GDP....I lived in Europe for 20 years, Russia has always been a very contraversal country, often backing any any country in opposition to the USA. Since I was born in Germany but live in the USA now, I can say this...truely....I would be really scared if the USA could no longer stand against Russia or Iran, don't trust them, ever
On a separate note, Obama recently made a joke comparing his bowling skills to those in the Special Olympics. I am not into PC crap BUT I thought it gave frightening insight into the man. I mean, what type of human being makes fun of the mentally and physically disabled. WHAT A DICK.
coultrane- This is why the leader of the "Free World" should not be out jerking off the masses on evening talk shows...Aren't we in a recession? Anyone READ the stimulus plan? Oh...No time...Got the Tonight Show Nancy! Fuc%king Ridiculous! The "Silver Tounged" Messiah just stuck his Chuck Taylors in his mouth!
Oh you're into the PC crap, no Obama fan here, but he was basically commenting on his bowling ablility and did "make a PC mistake" thats exactly what it was. I've heard that expression a million times, just up until the last few years has that type of thing been so scrutinized. Do I believe it's wrong..yes, do I believ Obama really thinks of special needs people in a bad way...no, and neither do others...so it is PC...
The guy is supposed to be the president of the United States. It makes him look like a DICK. Period. Comedy always comes at someone or somethings expense. No problem there. But when the President makes hay from the weak, well, I think he's a DICK.
My favorite comedians to name a few are Bill Hick and George Carlin. Hardly PC thinkers.
coultrane-I just had a thought...What if a caucasian, special needs kid went on Leno...And when asked about his basketball skills he compared himself to that of a street "N-Bomb" ? After all...Who likes to be PC anyway?
I'd give Obama a pass on his special Olympics joke however, the issue, in my mind is what would the left wing news (CBS, NBC, ABC, MSNBC,CNN NYT, LAT) media's response be if Sarah Palin said something like that?
While the union employees fight jobs for increasingly higher wages and benefits, The Corporations who employ them, demand more from the consumer for their product...Who demand more from their employers and lending institutions to pay for these items. Then when no one can afford these items...They resort to purchasing "Other" manufactures items. The Corporations then are forced to employ "Cheap" labor to compete...And turn a larger profit. The cycle of "Greed" as you call it is everywhere.
The fundamental problem for American labor is for the most part over the past years Americans have lived above the worldwide mean--have a higher standard of living.
That was fine until Globalization took hold where now capital flows freely across borders in search of cheap labor. China on $1 a day--next let us find Indonesia on $.50 a day.
This system results in Americans headed for a lower standard of living unable to compete with people willing to work for $.01 per day.
President Barack Obama says treasury secretary is one job that's not up for grabs.
Obama tells CBS' "60 Minutes" that if Treasury chief Timothy Geithner offered his resignation, the answer would be--in the president's words--"Sorry buddy, you've still got the job."
Of course he still has a the job. There is still plenty of money to be filtered to the bankers/crooks.
i thought 60 minutes was supposed to be about exposing people. I thought people were afraid to go 60 minutes because they served it raw. Bernanke puff piece last week. Obama puff piece this week.
Some where Orwell is crying and Atlas is shrugging.
.......i think i am going to print some 'free Madoff' t-shirts.
Eleven months before 911, globalist insider Nicholas Rockefeller bragged about an "Event" designed to trigger war and push the USA toward global gov't.
The late, great Aaron Russo recounts what he learned about the plans of the top movers and shakers of our political system through his friendship with this elitist insider. Watch my featured video to see it.
I agree. If only they would Free ENRON's Skiiling and put him in charge of the Treasury and free Madoff put him in charge of the FED. Then maybe then the people would wake up.
While I agree that lending institutions that sold "Sub Prime" mortgages, and CEO's who squandered shareholders earnings for their own profit should be held accountable...I disagree with you on the idea that "Capitalism" is greed. Just because someone is motivated to become wealthy, does not give those who make less a right to take away his/her wealth. That is what makes this country great...The idea that no matter who you are, or where you come from...Everyone has the same oportunity at wealth.
Furthermore...The idea that everyone should experience the same wealth...Or Communism...Is a failed system. Without the Trumps, Gates, Fords, Davidsons...There would be no industry...Therefore no jobs for the working class.
A couple of years ago i was watching Judge Judy. One lady was suing her ex because he 'stole' the playstation. She was suing for several thousand dollars.
The reason she was suing for thousands was because she had 'rented to own' the playstation and that is what she paid.
Insane. If people want to know how much they are getting screwed in interest fees, they should go to w w w. b ankrate. c om/brm/calc/MinPayment. a sp
For example lets say you have a mere 3,000 dollars in credit cards at the minimum 75$ per month, it would take you 230 MONTHS to pay it off and you would end up paying a STAGGERING 3146 DOLLARS IN INTEREST!
After taxes and interest it is no wonder people have very little discretionary income.
Gilgamesh73- Totally agree, excellent video, 326,513 views since 16 March already.
There is definitely a mood for change, the elite have total distain for the average guy in the street, and the average Joe has had enough. The problem is that we have been softened up over the years, therefore it's going to take a while before the momentum builds up to bring about change, but one thing is for sure, change will occur due to the stark about turn in our standard of living, whilst the elite prosper
"youre going to die anyway "is what spoilt brats that dont value life say. you want to die when youre a 90year old vegetable not in your prime cos of a disaster!
Thx for this vid as well as the anniversary vid where you pointed out your past predictions compared to now. You are really standing out against the rest, rising further with more subs! 5 stars on this one..... - john4951
A "Depression" is not an opinion you moron, it's a technical term. A Recession is when the GDP drops for two consecutive quarters. A Depression is defined as a fall in the GDP of 10% or more or a fall in the GDP for over 3 years.
i'm curious to why you think there is inflation. if anything hyper deflation is happening. they just did a story on CNN saying that used cars out price some new cars. My perspective on the economy is that its readjusting to real life circumstances. consumer goods are becoming only worth what someone will pay for it instead of what a CEO thinks will make their bottomline better. frankly i'm excited about the downturn in the economy. goods i bought last year are 50-70% cheaper.
LittleSuzySnowflake-You are excited about the downturn in the economy?Goods you purchased last year are 50-70% cheaper!? Are you a moron? THEY ARE NOW WORTH 50-70% LESS!! The homes that "REASONABLE" people purchased, are now worth LESS THAN WHAT THEY OWE! The automobile you own is WORTH LESS!! The Obama administration has printed more than a TRILLION dollars of currency to infuse into the market..DEVALUING the dollar even further!! Whats next...A loaf of bread-$3000.00? Try splitting the Prozac!
How many of these homes were purchased by people at 110% loan to value with incomes that were well below reasonable relationship to house price? How many bought more than 1 house or 6 or 7 hoping to flip it and make 'free' money. Or bought a $500 000 house with a $60 000 income.
It is true i am not for a downturn--a correction. But since income and housing ratios need to get back into standard deviation i say bring it on.
While I agree that the real estate debacle was do in large to the "Forcing" of loans to "Sub Prime" candidates...(A Clinton Administration Faux Pas) What does that say to the "Legitimate" home owners who are already suffering the redistribution of their earnings, to subsidize Welfare, and other ridiculous "Socialist" recipiants?
In regard to the deficit...How much money can we continue to print, without destroying our currency? They are borrowing with NO collateral, Just like the Homebuyers.
How many of these homes were purchased by people at 110% loan to value with incomes that were well below reasonable relationship to house price?
_______________________-
If most were reasonable over the past 10 years and only bought a house with 20% down and only bought houses within 3x their annual income we wouldn't be in this mess.
It takes two to tango.
Most prudent enough to have been saving over the past years; not overextending themselves will be o.k. Unfortunately a small group.
As I stated...I agree that the "People" are just as much at fault as the lending institutions who were looking for the quick profit. However...It has become the status quo to "Bail Out" "Stimulate" "Prop-up" failings within this country...Whether it be a large corporation, or the common individual who ran up a considerable amount of debt. These individuals will be "Piggy-backed" by the "Working" American...And his/her Tax dollars. In my opinion, that is a step toward Communism...and quite wrong.
......was do in large to the "Forcing" of loans to "Sub Prime" candidates...
That is sort of like focusing on the AIG bonuses.
Both are in unconscionable.
The real problem is too many are looking for a free lunch. Using credit to finance their lives---once Mcdonalds started taking credit cards the cat was out of the bag.
Today people are still hoping this will all go away. Instead of adjusting their expenses below their income. Half of the country is still looking for a handout.
I couldn't agree more...(The "Entitlement Mentality" within our nation is beyond rediculous! Unfortunatly...I don't feel that the honest, hardworking, individual got the government he/she deserved.
I would compare this "Crisis" to the Carter/Reagan years. One President inherited a failing economy from another...Yet chose to implement far different measures to preserve the finanacial structure of this country. While Reagan had his faults...I can't fathem a "Stimulus" bill or Trillion deficit.
world war 2 allowed us much advantage as we came out of it with our economy humming and Europe was destroyed. But by Nixon we had so overspent he had to close the gold window and it was Reagan who famously said 'deficits don't matter'. Clinton just put the pedal to the floor Bush did too and we find ourselves here.
I think we a in agreement, as far as "Big Government" is concerned. I consider myself a "Self Responsible" Independent...Meaning, I think that we are responsible for our own lives...And should not be controlled by the "Hands" of government. You stated that "Those who live within their means will be alright"...I agree to an extent. They will be better off than some...But under this administration, they will suffer the mistakes of many others...ie The Stimulus Plan, and HUGE deficit spending.
I'm going to give a pass to Obama for another 100 days. 'hopefully' when he is not doing late night TV he is at least cracking open some books and reading econ 101. We will soon see.
It seems some house legislators are feeling the heat. There are many paths forward but so far it is more of the same.
While I agree that it is still quite early in the game for Obama and his administration, It seems as though they are hell bent on doing what they want, in regard to spending and lawmaking...Without bipartisan or PUBLIC approval. The idea behind Capitolism is simple. The sky is the limit as far as profits are concerned- But the flip side is, they must be prepared to fail as well. When government is allowed to intervene, and help these institutions, the only logical reason is SELF INTEREST.
When government is allowed to intervene, and help these institutions, the only logical reason is SELF INTEREST.
_________________
Bingo they are trying to squeeze out every last 'bonus' as the train continues off the track. They are bought and paid for.
As i see it ii is up to the House. If enough can feel the heat--think they might get voted out--then we have a chance. We can take the medicine now and come out the other side over the next years.
Agreed! I think that alot of Americans are starting to see what too much "Government" power can do to a nation. Unfortunatly, we (The People) have lost sight of what this country was founded on...ie(Hard Work, Honesty, and Dedication). There must be protest against those who lack responsibility, and accountability...No matter who they are.
Gary- While I agree that "Moraly" Outsourcing jobs is wrong...It is part of our global economy. Take for instance Honda. While they are a Japanese based corporation...They "Outsource" jobs to American workers, and yet they are still very competative within the auto market. Why is that? Because while they pay their employees a decent wage, They are not ruled by ridiculous union demands. While the unions were necessary in the begining to protect the workers from abuse...The exact opposite today.
as far as the reserve currency status of US dollar , it will no doubt be challenged but can never be replaced cause , dollar might be in bad shape but all other currencies are either worse or worst .
and lastly everything in economics doesnt always add up , so even in the best of times if someboday starts going through the figures , they surely will start painting a doomsday scenario.
the savings rate is US is already up to 5 % from negative zone , now lets calculate GDP of US will be 13 trillion this year assuming a more than likely 8% fall in gdp, of this if the savings rate in US goes up to 10% from present 5% that will be 1.3 trillion approx , so u see all thats printed by fed again goes back to fed and if this happens hyper inflation may not happen and at the most, a modest and healthy inflation desired by everyone might be the outcome .
but the actual thing that may happen is that no matter how much money fed prints , only a nominal amt of that money will get actually spent cause the rest will go into savings , eg :- banks availed TARP money but sat on it , similarly US citizens too will park any extra income they get into banks or sit on it or repay their debt rather than spend it , so hyper inflation seems a vrery slim possibility .
hyper inflation seems possible if everything in the mkt follows the basic law of economics , but the truth is that actual events in the mkt , results in new rules that evolve in economics and not the other way round .
anyway anyone , anyday having a serious money at stake in US economy would prefer inflation , hyper inflation to deflation on any day .
lastly u are assuming all the feds printed money comes into the hands of public and it gets spent , resulting in hyper inflation.
What I've noticed is that the financial gurus on Youtube are not tying these dire predictions to the bible which has spoken of these perilous times for over two thousand years. Read the book of Revelations, it speaks of 1/3 the population dying and mass famine and disease and wars and earthquakes and meteorites etc. What isn't clear is the date of these events so its very probable it could be in our time. But be aware that the beginning of these events is mild compared to the progression
Anyone can say anything. The facts tell the truth. Revelation events did not happen before obviously. The facts support an economic collapse. It is impossible for there not to be one.
I am a follower of Christ and get very frustrated when every time a dark cloud enters the sky my fellow Christians run around calling for the imminent rapture and end of days. Just because America is going down, everyone thinks this is the big one, but many empires have fallen in the last 2,000 years.
I appreciate these videos. Many thanks!
59arkady 11 months ago
Food stamp use has risen dramatically along with unemployment but hiring is increasing and that will augment food stamp usage decreasing. Don't those two lagging indicators go hand in hand?
WJJ1968 1 year ago
Over a year later and the dollar is still over 80 with no major inflation in sight. These 'collapse' predictions just didn't happen.
WJJ1968 1 year ago
@WJJ1968 what r u talking about? food stamp use is up 22% in the past 12 months, its now at 39,000 million. Long term unemployment, defaults, notice of defaults, and notice of trustee sales are all at RECORDS. Food prices are up according to the gov 27% in the past year, food and energy combined are up 18%.
The gov is now funding 96.5% of all mortgages in the U.S. and last week in order to pretend things are getting better the BLS claimed that 188,000 unconfirmed jobs had been created.
visionvictory 1 year ago
@visionvictory In March, seven of the 10 leading indicators were positive: the interest rate spread; average weekly manufacturing hours; index of supplier deliveries; stock prices; building permits; average weekly initial claims for unemployment insurance and manufacturers new orders for consumer goods and materials.
— Mises Economics Blog.
WJJ1968 1 year ago
@visionvictory That's not true and you're not even accurate or reliable with these stats.
WTF is the inflation Schiffers?
psynema 1 year ago
@visionvictory "The all-food CPI increased 0.8%between 2009-2010, the lowest food inflation rate since 1962."
goldenthroat86 4 months ago
@WJJ1968 nut
Nevawake 1 year ago
Better head to Walmart now cause the chinese Yuan is about to be valued higher against the dollar. Higher prices comng to Walmart shoppers.
plalelal 1 year ago
You won't be able to buy gold with dollars soon. You will need Euros or Yuan. They are in the process of removing dollars from the various markets in favour of global currencies.
Get ready for the real collapse. Buy Yuan if you have greenbacks. Quick.
NSpinkpalace 2 years ago
Most people probably dont know at one time ALL currencies were backed by silver and gold. That is what gave the dollar value and prevented our government from inflating our currencies. Now if we went back to the gold and silver standards the price of these metals is going to sky rocket. If we reverted back to the gold and silver. Gold should be at about 5000 an ounce while silver around 300 an once.
TheCashistrash 2 years ago
Gold and silver can buy you food. You need to locate a metals trader sell metal for paper money and run to the store with paper and buy groceries. Now if you store your wealth in paper it is worth less as the months and years go on due to inflation. Silver and gold is a means of wealth preservation. Right now both Physical Gold and Silver are undervalued due to the Gold Derivatives. There is not enough Physical gold to back up the paper that was printed for it.
TheCashistrash 2 years ago
All these hyperinflation hacks dont get it. Debt is being imploded and destroyed. What do you think foreclosures are. That makes dollars dissapear from the system. Just look at dubai. Within the coming year, there will be many more dubai's and people will not be able to service the interest on their debt. We are in a deflationary collapse. Gold and silver arent going up because of inflation you fools. Its going up on lack of confidence of paper money. You people dont get it.
30percentplusreturns 2 years ago
You get it, I get and the CHINESE get it.
KingDrudge 2 years ago
At this point, I would become very skeptical of all numbers reported regarding GDP, unemployment, inflation, etc... It's been obvious that a great manipulation has been taking place socially and economically so what the hell is safe to believe. The Dow is going through the roof, while the value of the dollar plummets, and everyone on wall st. dances the jig. This is crazy stuff. I would buy as much gold and silver on the bank of america c.c., ditch the card, and hide the gold and silver.
jalexander126 2 years ago
Be afraid! Be very afraid!
haytubenon 1 year ago
LOL, Bill Handel is nuts, but I love John and Ken.
What do you think about withdrawing money from the bank in Euros?
SKUNKBALLScom 2 years ago
I just subscribed, keep up the good work! :o)
mtwood992211 2 years ago
Very good man, you've spoken the truth well.
Good luck to everyone. If you come to rob me for food, I refuse to fight.
TheCrystalRiver 2 years ago
call me when ur ready to take to the streets and head to the capital with guns......talk never got nothing done ......
its criminal .. time for change
chronos1112 2 years ago
Yes, I agree. But first,we must get bullet proof vests. Ya never know what they may have in store for us!
Fight the power!
doranda777 2 years ago
Fuck the UN and SDR
Get some real money in da house
Sinisterene 2 years ago
If billions hadn't been stolen and wasted on so-called "Child Protection" and all its affiliated criminal enterprises (google Dr. Charles Smith, for just one example), things would be much better financially. Not to mention the children wouldn't be living with foster "care" adoption pedophiles and getting raped and beaten as we speak / type.
CPSSucks 2 years ago
People have MONEY. They have to do something with that money to GET OUT OF DOLLARS. So they are BUYING STOCKS. Don't be so sure that you know where everything is going. You are not that good my friend. You placed your bets, now lets see who wins.
UTubeConspiracy 2 years ago
If money is so bad and worthless then why can I buy vauable gold /silver with it? think about it.
rstora01 2 years ago
that's why gold is going up, because the dollar is worth less by the day. think about it.
mtwood992211 2 years ago
the irony is that worthless paper dollars can be used to buy valuable gold and silver. Go figure! Also, I like to see someone try to buy their groceries or gas using gold or silver. Or pay any bill for that matter. Gold and silver are still priced in dollars. Oh those worthless dollars.
rstora01 2 years ago 3
so the reason I think hyper inflation isn't going to happen is because these companies need to sell goods, if nobody buys they will have to lower the price to get shoppers to buy.
screwopenborders 2 years ago
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lekepdu 2 years ago
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Thanks Congressman Paul for fighting so hard while we were asleep for so many years.
If you can help or live in the Shenandoah Valley come to our site at shenandoahmilitia (dot) wordpress (dot) com and help us grow and get ready.
SHENANDOAHMILITIA 2 years ago
Very well spoken, good job man. Seriously it's time america wakes up to realize all these goverment stimulus packages does nothing more than magifies the mess were in already.
drumsmetalheavy 2 years ago
Brandonly23 - You have no documentation that home prices are UP nationally. Home prices are DOWN ! The census bureau just reported that 1 in 9 houses in the United States are empty due to foreclosure.
November302008 2 years ago
What people in MSM do you think are closest to your ideas?
mkdelta69 2 years ago
How far do you want to allow housing to fall - to Zero ? The Housing market is in free fall..
November302008 2 years ago
not necessarily. in some areas its really good! and besides, average housing prices are actually UP nationally.
Brandonly23 2 years ago
Do you see any possibility of the US dollar reaching parity with the euro this year?
keith6660 2 years ago
Why do we have to fix housing ? Because that will fix the banks, the mortgage companies, the pension plans, insurance companies and everyone else who is invested in mortgage backed securities ie: real estate. Until Housing is fixed, there will be no recovery.
November302008 2 years ago
The only way to fix housing is to let prices fall so people can afford homes again. Propping up an artificial market will only cause more bleeding.
visionvictory 2 years ago
We need 30 year fixed rate mortgages to be 2.5 % or lower for us to survive. We must Fix Housing First.
November302008 2 years ago
why do we have to fix housing?
moniequa 2 years ago
Will we see DOW 10K and higher soon? With the inflationary actions of the Fed, won't this guarantee higher prices in the stock market? With the USD being diluted and worth LESS, won't it take more dollars to purchase a given share of stock, thus raising average share prices?
byronand5 2 years ago
If inflationary pressures build up that much, then gold would hit 2,000 in the short term. Personally, I still see a major contraction in business which will eventually be reflected in the stock market.
visionvictory 2 years ago
could you explain what will happen if the derivatives bubble pops.
reddragonkiller7 2 years ago
what a depressing title! :(
oh before i go, this blog rocks :) it post only the best youtube videos around daily so check it out!
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DishwallaCandle 2 years ago
Keep speaking out. Sooner or latter the rest of the world will wake up. It's just a matter of time.
Zancett 2 years ago
something we have to consider most people trust these so called professionals. the economy will crush when the majority of people start saying oh shit get rid of these dollars.
deletemepleez 2 years ago
For the unprepared, the rug covering the widening hole in the floor will be yanked out from under us..
It will be chaos..
thrashfan666 2 years ago
Lets have some fun. I project gold will drop to 850.00 or much lower. This can only be reversed if gold closes above 1002.20. Anyone out there in YouTube land want to disagree?
tfrenn 2 years ago
all roads lead to ben bernankes second in command, who says that the markets are based on "magic'"
check it out if you dont believe me...
watch?v=KAGa1mbBvC8
schiffhashitthefan 2 years ago
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HateAllNazis 2 years ago
i predict hyper inflation. then the feds will pay off a lot of debt with gold at its dollar value 3000-5000 an ounce, and china will be pissed.
deletemepleez 2 years ago 5
I also fear china will be pissed.
jaingxu 2 years ago
The WWIII, parallel universe, scenario is that China decides the U.S. can not pay off its loans and decides to take our assets (like in any good bankruptcy) -- through their million man army -- or by buying America.
RodCornholio 2 years ago
japan was supposedly going to do that twenty years ago. the real enemy is neither the two of them, nor was the third reich the real enemy. the real enemy is and was the organization that made the third reich.
deletemepleez 2 years ago
Lizardmen? -_-
Sinisterene 2 years ago
@deletemepleez Or china will stop buying the debt, the fed will start to hyperinflate and the leadership will begin using price controls, which lead to shortages.
masonkiller666 1 year ago
@masonkiller666 This is exactly what will happen.
bimmerbenzorbently1 7 months ago
You'll buy it, it will be all you can afford
leppy111 2 years ago
actually china has continued to rebuild it's infrastructure. their worse fault is they have to import alot of resources from australia and they have food shortages because of overpopulation. their industry is actually very powerful. most asian countries have way more advanced internet and other technological advantages. the us is very archaic and living on it's old reputation and military might. if it weren't for the fact of a powerful bond market the us would have collasped along time ago
satanic6ritual 2 years ago 2
Go ahead revolt now and your new government will be Russia, China, and South America. Faith in tradition got us into this.. People just let things happen without consequence of what will happen in the future or tomorro. With the fed, corporations, and our beloved government pulling the strings. People with iq know that when they say something publically it's usually a lie. i'll do this, i'll do that then people go to bed and leave their faith in all these authority figures that lie.
satanic6ritual 2 years ago
who the hell dose China think buys all their 0 quality CRAP?The U.S
peckiledorf 2 years ago
and just how do we buy it? From borrowing money from China, they save, we spend, its an easy fix for them, not so easy for us.
visionvictory 2 years ago
we won't buy the crap. they will starve like they did in the 60s
peckiledorf 2 years ago
TRUTH.
FreedomAintFree1 2 years ago
I want to call the new world currency the "bingo". Let's embrace the new world order and have fun doing it.
Yes, America is screwed. Yes, China owns us. Yes, Obama is a fascist.
AcePilot101 2 years ago
Watch the documentary IOUSA... you can find it here:
mocero com / movie / iousa /
ZTron57 2 years ago
Who has cash? Someone has cash?
laurieannek 2 years ago
China says they want to drop the dollar. This is front page news.
hdrkid 2 years ago
They know the Dollar is going to tank. It will collapse, it's imminent. The Chinese are desperate to convert the Dollars they have into something similar: a new world currency with similar, but real value. The Euro and the Dollar are fiat currencies like all the paper currencies. The Chinese are not going to lose their gains, they know that all this wealth can represent political leverage on a global scale. This is a threat to national security. The economy is paramount for America. Sigh!
curiousEGM 2 years ago
There is definitely a mood for change, the elite have total distain for the average guy in the street, and the average Joe has had enough. The problem is that we have been softened up over the years, therefore it's going to take a while before the momentum builds up to bring about change, but one thing is for sure, change will occur due to the stark about turn in our standard of living, whilst the elite prosper
Bau250 2 years ago
Bau250- While I can appreciate your disdain for the CEO's who took "Bail Out" money and used it for their own prosperity...I think you have lost focus on the true cause of this issue. When you take away all the corruption in government...You have a "Stimulus" bill that was READ by the public, as well as the members of congress & NO bail out financing. It's kind of like leaving your keys in your car on a dark street, and expecting it to be there in the morning.
Hamcarver 2 years ago
Inflation ? What inflation. The world just lost 40% of its wealth in equities. It's deflation. Just as nasty.
tfrenn 2 years ago
no...that's devaluation...you may be able to buy more shares of a company now with each dollar, but that doesn't mean you are getting more value out of the dollar. printing money always leads to inflation and we have recently printed Trillions. That is why Russia and China have both called for a new reserve currency...This is HUGE!!! The news talks about AIG bonuses and other garbage...mean while we have real news out there that is just avoided all together.
mayt7 2 years ago
Russia and China are scared shitless because they have bought so many treasuries. Since it is highly unlikely that the world reserve currency will be changed, they will sell their treasuries. Once they do that, the USD will implode and hello hyperinflation USA!!!!
CombineEmpire 2 years ago
silver is going to skyrocket, at least 30$an oz. buy while still low and hold b/c thats your food for who knows how long!
hiphopsocnroc 2 years ago
I hope you're right. I just bought 2k worth of silver with the hopes of being able to at least buy food with it when it gets bad.
fluttervalve 2 years ago
Why not stock up on food now? Prepare for the worst and hope for the best. Once the sheeple are made aware of the crisis to the masses, there will be no food left for anyone not already prepared. Rice, beans, canned goods, noodles, nutrition bars, etc. don't expire for a very long time. If you wait when crap hits the fan, then you will be left behind. Do this in this order: #1 Food stock #2 Gun/ammo #3 Gold/Silver
residentzombie 2 years ago
Good video. I'm obsessed with what the future holds.
TrashyGlitter 2 years ago
They didn't have food stamps back then so you are correct when you say 40 million people are in the (food stamps) breadlines!
BOBSMOKETV 2 years ago
Truth! Share! Care! Expose! Do Something!!
Thx for the vid!
danoking69 2 years ago
Well done.
hellcat1000 2 years ago
Daniel, what have you read about the transition mechanism from the dollar to a new currency?
kennethpace2 2 years ago
Alright then we will stop going to work stop paying our depts stop paying for our groceries and start workin together indepently and go back to bartering and get money out the way
essy111 2 years ago
Thanks again Daniel. Keep up the good work. I've been listening to Marc Faber for years and he has also predicted all of this. They nicknamed him Dr Doom. Turns out he is Dr Truth.
harbster2 2 years ago
I stand by the fact that you cannot eat gold...People should by seeds and use that as barter for gold and silver. You can only keep you precious metals for so long before you spend it and then what??? If you reproduce your seeds you are still in business.
Quantrill71 2 years ago
Invest in marijuana and poppy seeds, then when the shit hits the fan we can be high as fuck, then we won't give a shit. HA!
fheath13 2 years ago 4
You will when your friends and family start losing their jobs or get hurt.
CombineEmpire 2 years ago
Bernanke..what a joke...the guy is a paid liar..
Shanejulien 2 years ago 10
It looks me that finally were at the point where deflationary forces have been beat. More bad news for the Americans when the dollar goes down - as inflation only helps the well to do.
VV - please keep up the good work.
gods2fight 2 years ago
Best investment: guns, ammo, food, water.
icfnord 2 years ago 4
Everyone should invest in solar energy for your houses
mikeiswylde 2 years ago 3
Done that. If you think gold/silver is expensive you have no idea.
Trazom24 2 years ago
Best answer : buy all gold / silver and food and a means to defend yourself
KLguy133 2 years ago 3
What Bernanke actually did last week was devalue our currency by about 5-6%. Even if you are out of the market, you lost a lot of your money last week. You also got a big tax increase by the move.
Hero1957 2 years ago
thats true...its a very interesting albiet frightening delima..devaluing the currency to create inflation to jump start the economy...but in reality he is debasing the currency and deflating hard assets and inflating survival consumer goods like food and energy...so basically no one will have enough money to pay their mortgages buy food andkeep the lights on but you will be able to buy a car for peanuts...brilliant!
centervilletn 2 years ago
Exactly. I agree that is the only choice they have with the decisions they have made. It will be hard for the average person.
4evrMT 2 years ago
The analogy I use when explaining this phony economy to people is a drug dealer who relies on a dealer to front him drugs and then pays him once he sells the drugs. Small companies are enslaved to big companies through debt and that's why this system is so monopolized and corporatized! If the economy is based on borrowed money in the first place, the "little guy" has no other choice but to receive fronted goods or money from a big company.
andrewh817 2 years ago
Hyperinflation will be every companies' demise however the people profiting off these bailout scams (who are manipulating this deflationary period) are buying everything they want for themselves, including other banks. You can bet they're stocking up on guns, ammo, and food like the rest of us should be doing!
andrewh817 2 years ago
You say people have to "understand the fundamentals of this economy" yet 80% of the people out there don't understand basic supply and demand! Print more money and the demand for it goes down overseas!
andrewh817 2 years ago
What's funny is that they're not even being secretive about the collapse of the dollar anymore, it is "accepted" by the mainstream media. Now how long before it is "accepted" by the average American??
andrewh817 2 years ago
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shortyarib 2 years ago
good vid -- better than your average stuff. I think hyper-infation will hit as well. Do you think some companies with no debt and solid assests will also hyper-inflate in value?or wouls they be sucked down with everything else?
gsjodin 2 years ago
thx for the comments
visionvictory 2 years ago
Is it Bernake or Bernanke? I see it both ways a lot.
DLCallahandotcom 2 years ago
time to tune up the garden tiller
Isawanangel1X 2 years ago
yeah Obama misstepped on the comedy show. My 'knee jerk' reaction was to think he was out of line.
But then i thought better and realized there are many who suffer from night leg tremble where they jerk their knee and realized i was out of line.
True he apologized. But i am not convinced.
After congress gets through investigating steroids i think they should take this up next.
TGSIII 2 years ago
TGSIII-All kidding aside...Don't you think with the country in the shape it is in, The Obama administration should cut out the "Late Night" shows & the Private plane rides? It ammused me that the members of government point their fingers at the CEO's who ask for taxpayer bailouts, for their waste of taxpayer dollars...ie Private Jets, Shameful spending...Sounds ridiculous when they are BOTH abusing OUR money.
Hamcarver 2 years ago
actually--all kidding aside---i would rather relegate all members of the executive branch and legislative branch to only doing comedy shows.
I think we would be much better off.
TGSIII 2 years ago
Is it fair to say that hyperinflation is a currency debasement of 50% per month or cumulative inflation of over 100% in less than 3 years?
What defines hyperinflation in term of currency debasement?
Next; once we agree on what hyperinflation is and isn't what inflation rate is required over what term to wipe out our debt?
For starters let's compute the required rate to wipe out all $100 trillion +++ in 5 years? Next what rate would it take to do it in 20 years?
BDC03 what say you?
TGSIII 2 years ago
This comment has received too many negative votes show
INHALE MY ANAL VAPORS!
rockysman6 2 years ago
Russia...has and always will use whatever means available to circumvent the USA. They just passed the largest stimulas in world history when compared to GDP....I lived in Europe for 20 years, Russia has always been a very contraversal country, often backing any any country in opposition to the USA. Since I was born in Germany but live in the USA now, I can say this...truely....I would be really scared if the USA could no longer stand against Russia or Iran, don't trust them, ever
darkcloud2211 2 years ago 2
On a separate note, Obama recently made a joke comparing his bowling skills to those in the Special Olympics. I am not into PC crap BUT I thought it gave frightening insight into the man. I mean, what type of human being makes fun of the mentally and physically disabled. WHAT A DICK.
Any thoughts.
watch?v=RvbM6xPV-fY
coultrane 2 years ago
i bet Obama could beat bdc03 in bowling.
TGSIII 2 years ago
coultrane- This is why the leader of the "Free World" should not be out jerking off the masses on evening talk shows...Aren't we in a recession? Anyone READ the stimulus plan? Oh...No time...Got the Tonight Show Nancy! Fuc%king Ridiculous! The "Silver Tounged" Messiah just stuck his Chuck Taylors in his mouth!
Hamcarver 2 years ago 2
Oh you're into the PC crap, no Obama fan here, but he was basically commenting on his bowling ablility and did "make a PC mistake" thats exactly what it was. I've heard that expression a million times, just up until the last few years has that type of thing been so scrutinized. Do I believe it's wrong..yes, do I believ Obama really thinks of special needs people in a bad way...no, and neither do others...so it is PC...
darkcloud2211 2 years ago
The guy is supposed to be the president of the United States. It makes him look like a DICK. Period. Comedy always comes at someone or somethings expense. No problem there. But when the President makes hay from the weak, well, I think he's a DICK.
My favorite comedians to name a few are Bill Hick and George Carlin. Hardly PC thinkers.
coultrane 2 years ago 4
coultrane-I just had a thought...What if a caucasian, special needs kid went on Leno...And when asked about his basketball skills he compared himself to that of a street "N-Bomb" ? After all...Who likes to be PC anyway?
Not a racist...Just some food for thought.
Hamcarver 2 years ago
I'd give Obama a pass on his special Olympics joke however, the issue, in my mind is what would the left wing news (CBS, NBC, ABC, MSNBC,CNN NYT, LAT) media's response be if Sarah Palin said something like that?
Joeys48 2 years ago
While the union employees fight jobs for increasingly higher wages and benefits, The Corporations who employ them, demand more from the consumer for their product...Who demand more from their employers and lending institutions to pay for these items. Then when no one can afford these items...They resort to purchasing "Other" manufactures items. The Corporations then are forced to employ "Cheap" labor to compete...And turn a larger profit. The cycle of "Greed" as you call it is everywhere.
Hamcarver 2 years ago
The fundamental problem for American labor is for the most part over the past years Americans have lived above the worldwide mean--have a higher standard of living.
That was fine until Globalization took hold where now capital flows freely across borders in search of cheap labor. China on $1 a day--next let us find Indonesia on $.50 a day.
This system results in Americans headed for a lower standard of living unable to compete with people willing to work for $.01 per day.
TGSIII 2 years ago
Geithner's Job at Treasury Safe, Obama Says
President Barack Obama says treasury secretary is one job that's not up for grabs.
Obama tells CBS' "60 Minutes" that if Treasury chief Timothy Geithner offered his resignation, the answer would be--in the president's words--"Sorry buddy, you've still got the job."
Of course he still has a the job. There is still plenty of money to be filtered to the bankers/crooks.
coultrane 2 years ago
i thought 60 minutes was supposed to be about exposing people. I thought people were afraid to go 60 minutes because they served it raw. Bernanke puff piece last week. Obama puff piece this week.
Some where Orwell is crying and Atlas is shrugging.
.......i think i am going to print some 'free Madoff' t-shirts.
TGSIII 2 years ago 2
Eleven months before 911, globalist insider Nicholas Rockefeller bragged about an "Event" designed to trigger war and push the USA toward global gov't.
The late, great Aaron Russo recounts what he learned about the plans of the top movers and shakers of our political system through his friendship with this elitist insider. Watch my featured video to see it.
AwakenAmerica 2 years ago
i just read the la times article vv references at the top left of the screen deflation?????
It is a editorial from the la times blogger talking about bernanke printing and a reference to schiff.
There are a couple of good comment in the comment section by martscan that rebuts schiff et al.
TGSIII 2 years ago
top right of the screen. deflation?????? latimes
TGSIII 2 years ago
Actually his arguments are pretty terrible. Martscan is basically saying print print print.
bdc03 2 years ago
The ONLY difference between Bernie Madoff and the FED... is that the investors had a choice to give Bernie their money.
Hamcarver 2 years ago
I agree. If only they would Free ENRON's Skiiling and put him in charge of the Treasury and free Madoff put him in charge of the FED. Then maybe then the people would wake up.
TGSIII 2 years ago
I doubt they would even at that point.
BendoverBernanke 2 years ago
The people who invested with Bernie Madoff are just as fking greedy as him.
They wanted high returns on their money than most other people would get so they can live in McMansions and drive bmw's.
Fuck them.
I see these people where I used to live on Long Island. They are greedy scum.
GaryNull 2 years ago
most people invested with madoff were fund of funds. don't be mad at people for having money.
bdc03 2 years ago
While I agree that lending institutions that sold "Sub Prime" mortgages, and CEO's who squandered shareholders earnings for their own profit should be held accountable...I disagree with you on the idea that "Capitalism" is greed. Just because someone is motivated to become wealthy, does not give those who make less a right to take away his/her wealth. That is what makes this country great...The idea that no matter who you are, or where you come from...Everyone has the same oportunity at wealth.
Hamcarver 2 years ago
Furthermore...The idea that everyone should experience the same wealth...Or Communism...Is a failed system. Without the Trumps, Gates, Fords, Davidsons...There would be no industry...Therefore no jobs for the working class.
Hamcarver 2 years ago 3
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jdfox1 2 years ago
A couple of years ago i was watching Judge Judy. One lady was suing her ex because he 'stole' the playstation. She was suing for several thousand dollars.
The reason she was suing for thousands was because she had 'rented to own' the playstation and that is what she paid.
It was then i knew we were in trouble.
TGSIII 2 years ago 2
Insane. If people want to know how much they are getting screwed in interest fees, they should go to w w w. b ankrate. c om/brm/calc/MinPayment. a sp
For example lets say you have a mere 3,000 dollars in credit cards at the minimum 75$ per month, it would take you 230 MONTHS to pay it off and you would end up paying a STAGGERING 3146 DOLLARS IN INTEREST!
After taxes and interest it is no wonder people have very little discretionary income.
coultrane 2 years ago
and this is deflationary. Anytime people are working to for non productive activity--interest payments---- at the end of the day it is deflationary.
TGSIII 2 years ago
you get the government you deserve.
TGSIII 2 years ago
watch?v=jeYscnFpEyA
THE GREATEST VIDEO YOU WILL EVER WATCH
Gilgamesh73 2 years ago
Gilgamesh73- Totally agree, excellent video, 326,513 views since 16 March already.
There is definitely a mood for change, the elite have total distain for the average guy in the street, and the average Joe has had enough. The problem is that we have been softened up over the years, therefore it's going to take a while before the momentum builds up to bring about change, but one thing is for sure, change will occur due to the stark about turn in our standard of living, whilst the elite prosper
hotcloud 2 years ago
if they buy more toxic assets monday, FAS could be a high flying play
tannedking187 2 years ago
"youre going to die anyway "is what spoilt brats that dont value life say. you want to die when youre a 90year old vegetable not in your prime cos of a disaster!
cathkin33 2 years ago
Thx for this vid as well as the anniversary vid where you pointed out your past predictions compared to now. You are really standing out against the rest, rising further with more subs! 5 stars on this one..... - john4951
john4951 2 years ago
A "Depression" is not an opinion you moron, it's a technical term. A Recession is when the GDP drops for two consecutive quarters. A Depression is defined as a fall in the GDP of 10% or more or a fall in the GDP for over 3 years.
mmglv 2 years ago
Ask 10 Economist what a depression is, and get 10 answers.
By the way, the two consecutive quarters criteria for a recession hasn't been around that long.
Just because you stayed at a Holiday in Express last night doesnt mean you know everything. ;) calm down
visionvictory 2 years ago
i'm curious to why you think there is inflation. if anything hyper deflation is happening. they just did a story on CNN saying that used cars out price some new cars. My perspective on the economy is that its readjusting to real life circumstances. consumer goods are becoming only worth what someone will pay for it instead of what a CEO thinks will make their bottomline better. frankly i'm excited about the downturn in the economy. goods i bought last year are 50-70% cheaper.
snowflakehunter 2 years ago 2
LittleSuzySnowflake-You are excited about the downturn in the economy?Goods you purchased last year are 50-70% cheaper!? Are you a moron? THEY ARE NOW WORTH 50-70% LESS!! The homes that "REASONABLE" people purchased, are now worth LESS THAN WHAT THEY OWE! The automobile you own is WORTH LESS!! The Obama administration has printed more than a TRILLION dollars of currency to infuse into the market..DEVALUING the dollar even further!! Whats next...A loaf of bread-$3000.00? Try splitting the Prozac!
Hamcarver 2 years ago
reasonable people purchased homes? HUH!!!!!!
How many of these homes were purchased by people at 110% loan to value with incomes that were well below reasonable relationship to house price? How many bought more than 1 house or 6 or 7 hoping to flip it and make 'free' money. Or bought a $500 000 house with a $60 000 income.
It is true i am not for a downturn--a correction. But since income and housing ratios need to get back into standard deviation i say bring it on.
TGSIII 2 years ago
While I agree that the real estate debacle was do in large to the "Forcing" of loans to "Sub Prime" candidates...(A Clinton Administration Faux Pas) What does that say to the "Legitimate" home owners who are already suffering the redistribution of their earnings, to subsidize Welfare, and other ridiculous "Socialist" recipiants?
In regard to the deficit...How much money can we continue to print, without destroying our currency? They are borrowing with NO collateral, Just like the Homebuyers.
Hamcarver 2 years ago
How many of these homes were purchased by people at 110% loan to value with incomes that were well below reasonable relationship to house price?
_______________________-
If most were reasonable over the past 10 years and only bought a house with 20% down and only bought houses within 3x their annual income we wouldn't be in this mess.
It takes two to tango.
Most prudent enough to have been saving over the past years; not overextending themselves will be o.k. Unfortunately a small group.
TGSIII 2 years ago
As I stated...I agree that the "People" are just as much at fault as the lending institutions who were looking for the quick profit. However...It has become the status quo to "Bail Out" "Stimulate" "Prop-up" failings within this country...Whether it be a large corporation, or the common individual who ran up a considerable amount of debt. These individuals will be "Piggy-backed" by the "Working" American...And his/her Tax dollars. In my opinion, that is a step toward Communism...and quite wrong.
Hamcarver 2 years ago
......was do in large to the "Forcing" of loans to "Sub Prime" candidates...
That is sort of like focusing on the AIG bonuses.
Both are in unconscionable.
The real problem is too many are looking for a free lunch. Using credit to finance their lives---once Mcdonalds started taking credit cards the cat was out of the bag.
Today people are still hoping this will all go away. Instead of adjusting their expenses below their income. Half of the country is still looking for a handout.
TGSIII 2 years ago
I couldn't agree more...(The "Entitlement Mentality" within our nation is beyond rediculous! Unfortunatly...I don't feel that the honest, hardworking, individual got the government he/she deserved.
I would compare this "Crisis" to the Carter/Reagan years. One President inherited a failing economy from another...Yet chose to implement far different measures to preserve the finanacial structure of this country. While Reagan had his faults...I can't fathem a "Stimulus" bill or Trillion deficit.
Hamcarver 2 years ago
world war 2 allowed us much advantage as we came out of it with our economy humming and Europe was destroyed. But by Nixon we had so overspent he had to close the gold window and it was Reagan who famously said 'deficits don't matter'. Clinton just put the pedal to the floor Bush did too and we find ourselves here.
Plenty of blame to go around.
TGSIII 2 years ago
I think we a in agreement, as far as "Big Government" is concerned. I consider myself a "Self Responsible" Independent...Meaning, I think that we are responsible for our own lives...And should not be controlled by the "Hands" of government. You stated that "Those who live within their means will be alright"...I agree to an extent. They will be better off than some...But under this administration, they will suffer the mistakes of many others...ie The Stimulus Plan, and HUGE deficit spending.
Hamcarver 2 years ago
I'm going to give a pass to Obama for another 100 days. 'hopefully' when he is not doing late night TV he is at least cracking open some books and reading econ 101. We will soon see.
It seems some house legislators are feeling the heat. There are many paths forward but so far it is more of the same.
TGSIII 2 years ago
While I agree that it is still quite early in the game for Obama and his administration, It seems as though they are hell bent on doing what they want, in regard to spending and lawmaking...Without bipartisan or PUBLIC approval. The idea behind Capitolism is simple. The sky is the limit as far as profits are concerned- But the flip side is, they must be prepared to fail as well. When government is allowed to intervene, and help these institutions, the only logical reason is SELF INTEREST.
Hamcarver 2 years ago
When government is allowed to intervene, and help these institutions, the only logical reason is SELF INTEREST.
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Bingo they are trying to squeeze out every last 'bonus' as the train continues off the track. They are bought and paid for.
As i see it ii is up to the House. If enough can feel the heat--think they might get voted out--then we have a chance. We can take the medicine now and come out the other side over the next years.
Or; we can continue toward the cliff.
TGSIII 2 years ago
Agreed! I think that alot of Americans are starting to see what too much "Government" power can do to a nation. Unfortunatly, we (The People) have lost sight of what this country was founded on...ie(Hard Work, Honesty, and Dedication). There must be protest against those who lack responsibility, and accountability...No matter who they are.
Hamcarver 2 years ago
>> Hard Work, Honesty, and Dedication
It's a shame how that is all gone now because of a few greedy bastards on wall street and in banking.
People are becoming desparate and are going to think of themselves first now (and I don't blame them).
The "pride" of working for a company is gone. Just deal with most employees of corporations/businesses/stores and you'll see what I mean.
One week they're working for company A, the next week company B buys them.
Jobs being transferred overseas.
GaryNull 2 years ago
Gary- While I agree that "Moraly" Outsourcing jobs is wrong...It is part of our global economy. Take for instance Honda. While they are a Japanese based corporation...They "Outsource" jobs to American workers, and yet they are still very competative within the auto market. Why is that? Because while they pay their employees a decent wage, They are not ruled by ridiculous union demands. While the unions were necessary in the begining to protect the workers from abuse...The exact opposite today.
Hamcarver 2 years ago
that is a step toward Communism.
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nice talking with you comrade.
TGSIII 2 years ago
By the end of this a house will probably be worth an ounce of gold.
bdc03 2 years ago
bottomline is simple there cant be a religion without god OR economics without confidence , and thats what is required right now .
so be confident , help ur self the world surely will automatically take care of itself.
9343105697 2 years ago
as far as the reserve currency status of US dollar , it will no doubt be challenged but can never be replaced cause , dollar might be in bad shape but all other currencies are either worse or worst .
and lastly everything in economics doesnt always add up , so even in the best of times if someboday starts going through the figures , they surely will start painting a doomsday scenario.
9343105697 2 years ago
the savings rate is US is already up to 5 % from negative zone , now lets calculate GDP of US will be 13 trillion this year assuming a more than likely 8% fall in gdp, of this if the savings rate in US goes up to 10% from present 5% that will be 1.3 trillion approx , so u see all thats printed by fed again goes back to fed and if this happens hyper inflation may not happen and at the most, a modest and healthy inflation desired by everyone might be the outcome .
9343105697 2 years ago
but the actual thing that may happen is that no matter how much money fed prints , only a nominal amt of that money will get actually spent cause the rest will go into savings , eg :- banks availed TARP money but sat on it , similarly US citizens too will park any extra income they get into banks or sit on it or repay their debt rather than spend it , so hyper inflation seems a vrery slim possibility .
9343105697 2 years ago
Awsome! Just Awsome! Always great info. You are a true watchman Danial.
NRH117 2 years ago
hyper inflation seems possible if everything in the mkt follows the basic law of economics , but the truth is that actual events in the mkt , results in new rules that evolve in economics and not the other way round .
anyway anyone , anyday having a serious money at stake in US economy would prefer inflation , hyper inflation to deflation on any day .
lastly u are assuming all the feds printed money comes into the hands of public and it gets spent , resulting in hyper inflation.
9343105697 2 years ago
You better be right because if you're not, I will be piss.
jcpenny969 2 years ago
What I've noticed is that the financial gurus on Youtube are not tying these dire predictions to the bible which has spoken of these perilous times for over two thousand years. Read the book of Revelations, it speaks of 1/3 the population dying and mass famine and disease and wars and earthquakes and meteorites etc. What isn't clear is the date of these events so its very probable it could be in our time. But be aware that the beginning of these events is mild compared to the progression
Spurgeon123 2 years ago
some say that those events in revelation already happened in AD 70 when Jerusalem fell to Rome; there is something to think about.
At any rate if what does it profit a man if he gains the world, regardless of when?
;)
SafeArmsReview 2 years ago
Anyone can say anything. The facts tell the truth. Revelation events did not happen before obviously. The facts support an economic collapse. It is impossible for there not to be one.
kenandjasha 2 years ago 2
I am a follower of Christ and get very frustrated when every time a dark cloud enters the sky my fellow Christians run around calling for the imminent rapture and end of days. Just because America is going down, everyone thinks this is the big one, but many empires have fallen in the last 2,000 years.
visionvictory 2 years ago